U.S.-based biotech Tesaro has in-licensed rights to its candidate to treat nausea in chemotherapy victims to China's Jiangsu Hengrui Medicine as it looks ahead to a pending review decision by the U.S. FDA.
Rolapitant, Tesaro's experimental therapy for preventing some nasty side effects of chemo, has hit all the primary and secondary goals, helping boost the company's stock today and leaving it on track to deliver an NDA to the FDA in the next few months.
Tesaro touted positive results for the primary endpoints laid out for the late-stage program it had underway for its top cancer drug prospect rolapitant, but investors soured on the drug after it failed to score secondary goals and drove the biotech's shares down by a hefty 22% this morning.
Tesaro is betting that its management's rep and a late-stage program will help entice investors to snap up 6 million shares at $12 to $15 a share, worth an estimated $86.3 million.
Tesaro has put together an SEC filing that makes one essential promise to prospective investors: This company is built for speed.